Cloud-based accounting s'ware HostBooks raises $3-M from Razorpay, others

HostBooks, a Gurugram-based micro, small and medium enterprise (MSME)-focused fintech startup, has raised USD 3 million in a Series-A funding round led by Razorpay. HostBooks plans to use the funds to add new features to its existing product suite, to develop a business intelligence system and an AI-based posting and recommendation system. The funds will also be used to launch products supporting order management, neo-banking, advanced inventory & production management and AI-based business decision making tools.